US private employers added 86,000 jobs in October, beating the 69,000 economists expectedThat's a second straight month …
US private employers added 86,000 jobs in October, beating the 69,000 economists expected
That's a second straight month at 86,000 after September was revised down from 90,000, per the $Automatic Data Process(ADP.US) National Employment ReportTrade, transportation and utilities led with +39,000, followed by education and health at +28,000 and leisure and hospitality at +19,000Professional and business services lost 27,000 jobs, their third straight monthly declineJob-changers saw gross pay jump 7.6% from a year ago, and ADP says their earnings growth hit its fastest pace since March 2024Base pay rose 3.2% for all workers and 3.0% for people who stayed putThe official BLS jobs report lands Friday, with economists looking for about 65,000 nonfarm jobs and unemployment holding at 4.2%Hiring is slow but steady, and pay for job-hoppers is speeding back up, which is exactly the mix that keeps the Fed cautious even as the blue wave rally lifts $SPY and $QQQ this morningSource: StockMarket.News
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